The Sprouting BPO Sri Lanka
From a small war torn country, Sri Lanka is quickly growing in the BPO businesses. The country is enjoying the apparent desire of many BPO company operating in the neighboring India who want multiple countries where they could operate their businesses. This together with the already Indian companies is providing the impetus to drive BPO Sri Lanka to great heights.
Sri Lanka is still very youthful in the outsourced business as a whole and it is still gaining some momentum, however, BPO Sri Lanka is already gaining popularity with its competitive advantage of many English speaking graduates as compared to the more populous China, India and Philippines. One of the key areas where there is tremendous revolution is the software development where it is expected to boom thus third party BPO companies will also boom along with it. There are also many graduates who are leaving college with qualifications in IT who are currently getting absorbed into some of the BPO companies.
Currently Sri Lanka has about 300 medium sized companies as well as small ones which employ up to five hundred professionals each. Among the industry leader in BPO Sri Lanka is Hellocorp which claims well over 30% of the market share. There are other companies which are already operating in this place which include the HSBC, Microsoft, Motorola as well as RR Donnelley amongst many others. The companies are taking the advantages that Sri Lanka has cheap labor which is quite competent and this a key driver which will make the BPO sector very successful
Though Sri Lanka is still not much preferred by investors who see it risky, the country has a challenge in changing this negative perception. There are many reasons that could attract outsourcing vendors which include its lovely climate, tourist’s destinations, and the locals who are friendly as well as have a great adoptability. It is a quick changing country which has fast growing record of Gross Domestic Product.
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